What is changed ?
After the metaverse popularity, Web 3.0 — is the new buzzword taking over the Internet world. Also known as the decentralized web, Web 3.0 is the third version of the Internet, which is an improvement over the current Web 2.0 Internet.
Under Web 2.0, Internet has become more social. Under this stage, Internet users have been encouraged to connect with each other through social networking services and blogs, which has been leading to the creation of massive volumes of data and content.
The Web 3.0
The Web3 has set out to break up the market power of these centralized players by replacing the centralized server-client infrastructure with distributed ledgers, the most common type being the blockchain. So instead of all data being stored on a centralized server, it will be scattered across a decentralized computer network. Centralized entities, which previously acted as intermediaries, will thus become obsolete.
In Web3 you can send your transaction via a decentralized blockchain such as the Bitcoin blockchain. This blockchain independently verifies the accuracy of the transaction through the use of mathematics and computing power. Unlike Web2, banks are no longer needed as intermediaries. That also means the user retains control over their data, and since there is no centralized actor making money from the transaction, there are no fees to pay.
Decentralized Data Network
Decentralized data networks enable various data generators to sell or trade their data without losing ownership, risking privacy or relying on intermediaries. As a result, decentralized data networks will have a long list of data providers in the growing ‘data economy.’
For example, let’s say that you are performing an action on a 3rd party web, any notification is a product or an image. This action of yours on web 2.0 allows the other party to collect data from you and use it against you.
As an example (facebook, Google or it might be Alexa), these third party applications use the data they collect from you to set the targeting of the advertisements. However, in web 3.0, data is decentralized which means that users will own their data.Decentralized data networks enable various data generators to sell or trade their data without losing ownership, risking privacy or relying on intermediaries. It enables you to log in securely over the Internet without getting tracked by using Internet Identity.
Summary
- Web 1.0 was kind of a Global Library — it took a world of existing information and put it into one big open archive.
- Web 2.0 was akin to Global Publishing — anyone could produce content and store it in centralized databases.
- Web 3.0 turns the Global Database. No longer is the internet a bucket full of raw data.
